NAIROBI
Kenya’s Capital Markets Authority has approved the country’s first exchange-traded fund structured and domiciled entirely within its borders, reflecting the growing depth of the Nairobi Securities Exchange.
The regulator granted approval on August 11, 2026, for the WSA Banking Index Exchange Traded Fund, issued by Wall Street Africa in partnership with Tradiam Asset Managers.
Two exchange-traded funds already trade on the Nairobi bourse, but both are domiciled abroad. The new product marks the first time an ETF has been conceived, structured, and domiciled inside Kenya.
Although approval was secured in August, the fund has not yet listed and is expected to debut in the fourth quarter of 2026, subject to final clearance by the exchange.
Tradiam has indicated a mid-October target for the listing, pending completion of operational requirements.
The WSA Banking Index fund will track the NSE Banking Sector Index, offering investors diversified exposure to Kenya’s listed lenders through a single traded security.
Buying shares in one bank exposes investors to that institution’s fortunes alone. An ETF spreads that risk across the sector, allowing weaker performance at one lender to be offset by gains at others, though investors also give up some of the upside from a single strong-performing stock.
The launch comes as bank shares lead a rally in Kenyan equities, highlighting the sector’s liquidity and strong returns. Eric Ruenji, Chief Executive of Tradiam Asset Managers, said the firm is focused on completing operational and listing requirements ahead of launch.
Wall Street Africa co-founder Eric Asuma described Kenya’s banking sector as one of the strongest performing globally in terms of return on investment.
Officials expect the new fund to broaden participation in Kenya’s capital markets by providing both local and foreign investors with a liquid, low-cost instrument that spreads risk across the sector.
The listing is seen as a milestone in efforts to deepen the country’s financial markets and attract global capital.
